Crypto Fund wins first Swiss crypto asset management licence
Crypto Finance CEO Jan Brzezek has hailed the award of a FINMA license as a "major breakthrough".
Crypto Finance
The Swiss financial regulator has issued the country’s first cryptocurrency asset management licence, allowing Crypto Fund to offer services to institutional clients in the blockchain-based asset class.
This content was published on
2 minutes
I write about the rapidly evolving artificial intelligence technology and its possible impacts on society.
Originally from England, I spent some time at the BBC in London before moving to Switzerland to join SWI swissinfo.ch.
The Zug-headquartered company had earlier this year been granted limited freedom to distribute offshore-based cryptocurrency funds by the Swiss Financial Market Supervisory Authority (FINMA). But the upgrade announced on Tuesday allows the firm to issue a wider array of collective investment products that track bitcoin and other cryptocurrencies, including funds based in Switzerland.
Crypto Fund is also allowed to provide investment advice for institutional clients. In essence, the crypto financial services provider can now operate on the same level as traditional asset managers in Switzerland.
Several other competitors have been queuing up at FINMA’s door to get approval to offer their services in Switzerland. New outfit Seba Crypto recently joined that list, announcing that it hopes to get a license to offer full banking services for cryptocurrency operators in future.
But Crypto Fund has scored a major coup in getting the first significant license to date. The news also boosts Switzerland’s credentials as a so-called ‘Crypto Nation’ as it pushes to carve a niche in the rapidly evolving world of crypto finance. It remains to be seen whether this opens the floodgates for other licences to be issued.
Crypto Fund is one branch of the company Crypto FinanceExternal link, which was set up in June 2017. “The importance of crypto assets is growing and our aim is to accelerate maturity in these markets. Regulatory recognition remains highly sought after by participants, as seen in recent press and company statements,” stated Crypto Finance CEO Jan Brzezek.
Popular Stories
More
Swiss Abroad
Ups and downs: Swiss drivers benefit from world’s only mobile bridge
Swiss carry out record number of civilian service days
This content was published on
Members of the civilian service completed a record 1.9 million days of service in 2024, a 3.5% increase on the previous year.
Initiative aims to curb lobbying in Swiss parliament
This content was published on
A new popular initiative wants to put the brakes on lobbying in federal politics. Members of the Federal Assembly with vested interests are the target.
Soda lakes: Swiss researchers discover clues to origin of life
This content was published on
Life on Earth could have originated four billion years ago in large soda lakes, according to researchers at the Swiss federal technology institute ETH Zurich.
This content was published on
Geneva Airport recorded a clear increase in both revenue and, in particular, profit in 2024. The airport has now almost fully recovered from the Covid slump.
This content was published on
At around 11:20am on Saturday the moon will begin to move in front of the sun in Switzerland. However, it will not completely cover it.
SlowUp cycle ride celebrates quarter-century in Switzerland
This content was published on
Twenty-five years ago slowUp was launched as a pilot project for Expo.02 on the shores of Lake Morat in western Switzerland.
This content was published on
A Swiss court has confirmed the acquittals of former FIFA president Joseph Blatter and former UEFA president Michel Platini at first instance.
Crypto exchanges must face up to responsibilities as they mature
This content was published on
Cryptocurrency exchanges are looking more like their traditional peers, but some warn the pace of change is more baby steps than giant leaps.
This content was published on
The Swiss company Crypto Valley Venture CapitalExternal link (CV VC) launched its initial “Genesis Hub” incubator in Zug, home to Switzerland’s Crypto Valley, on Thursday. Starting with 20 blockchain start-ups, it aims to fund and mentor 60 new companies per year. The consortium has ambitious plans to replicate this incubator in different parts of the…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.